SmartGateVC announces investment in Vonova, a pioneer in catheter-based brain interface technology
SmartGateVC is thrilled to announce its investment in Vonova, a groundbreaking medtech company developing a minimally invasive intracranial access platform for the brain interface market. Vonova's innovative approach offers a less invasive alternative to traditional brain surgeries, paving the way for transformative neuromodulation therapies.
Ashot Arzumanyan, Partner at SmartGateVC, said, "The marriage of our bodies with AI is a significant emerging area. Companies like Neuralink and Neurolutions are pioneering the extension of our brainpower with AI. Given the rapid development of AI, it makes sense to take a deep look at life sciences and the opportunities it presents at its intersection with AI. Vonova's work in catheter-based brain interface technology is a prime example of this exciting frontier."
Areg Alimian, Partner at SmartGateVC, added, "Vonova's innovative approach has the potential to revolutionize how we interact with the human brain. By providing a less invasive method for brain interfaces, they're not just improving patient outcomes but also opening up new avenues for neuroscience research and AI integration. This investment aligns with our vision of supporting transformative technologies at the intersection of AI and healthcare."
Vonova's flagship product, the Cerebro Clear System, now targets chronic subdural hematoma (cSDH) evacuation, a market valued at $1.6 billion. Through discussions with the U.S. Food and Drug Administration (FDA) and strategic partners, Vonova has accelerated its commercialization pathway by three years. The company has secured a collaboration agreement with Lawrence Livermore National Laboratory (LLNL) to prototype their electrode array for future product indications using exclusive manufacturing technology, previously utilized in the original Neuralink prototype.
Vonova's management team has expertise in catheter device development and neurology. The company is led by seasoned engineer Wesley Jones, who serves as the technical co-founder and CEO and has 10+ years of experience in the medical device industry. Dr. Jose Morales, a neurointerventional surgeon with more than 15 years of research experience, is the clinical co-founder and inventor of Vonova’s less invasive method for accessing the brain. Geoff Weissbach has recently joined the team to lead Vonova's operations and brings over two decades of medical device experience.
Wesley Jones, Co-founder and CEO of Vonova, said, "The human brain is a dynamic and intricate network, and understanding its electrical patterns is key to unlocking cures for neurological disorders. However, current noninvasive techniques can't capture the brain's high-resolution activity, and invasive brain surgery is risky and costly. Vonova's catheter platform offers a less invasive pathway to the brain surface, opening up a new world of possibilities for diagnosis and treatment. We're thrilled to have SmartGateVC's support as we continue to develop this transformational technology."
Vonova was selected from the top 5% of over 1,300 global emerging medtech companies to join MedTech Innovator’s 2024 cohort, the world’s premier medtech accelerator. To accelerate product development ahead of a planned priced round, Vonova has opened a convertible note up to $1 million, with SmartGateVC leading the initial investment. This final angel round closes on September 15th, 2024.
About SmartGateVC
SmartGateVC is a California and Armenia-based pre-seed/seed venture capital firm backed by seasoned tech investors, entrepreneurs, and professionals. The key focus areas are the frontiers to be unveiled by Artificial Intelligence (AI): BCI, AI to the physical world link, AI infrastructure, and TRiSM.
